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| In today's Daily Pitch, you'll find: | | | | | |
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| What GPs, LPs really think about impact and ESG | | Opinions on impact investing and ESG frameworks in the private markets are often described as politically polarized, and there's no sign that characterization will fade anytime soon. But between the sustainable investing diehards and the anti-ESG stalwarts, there's a much bigger set of investors with nuanced views on how to balance investing for profit and investing for purpose, and why they need not be mutually exclusive.
Hundreds of private market players responded to our Sustainable Investment Survey this year, and our 2023 report provides a window into their overlapping and sometimes conflicting views on impact and ESG. | | | | | | | | | Take a sneak peek at Q2 US VC data | | The first half of the year delivered more challenges to venture capital, but those headwinds may be weakening, according to our first look at data from the Q2 2023 PitchBook-NVCA Venture Monitor, sponsored by Insperity, J.P. Morgan, and Dentons.
Valuations continue to fall, but quarterly capital raised by startups has been relatively steady for the past three quarters. Much depends on the revival of the exit environment and, by extension, the flow of capital back into new funds. | | | | | | | |
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| PitchBook's 2023 Media Kit released | | With uncertainty across the private and public markets likely to continue, strong and insightful thought leadership is critical to your clients and prospects.
By partnering with PitchBook Media, you will have daily opportunities to reach 1.5M+ industry professionals in our newsletter, and you can broaden exposure of your brand through our core industry reports. We also help clients create custom research to share data-driven insights on the market.
Our 2023 Media Kit contains all the details to help your firm position itself in front of a VC or PE audience.
Click here to download it today or to speak to someone on the media team. | | | | | | | |
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| Altas Partners closes $4B fund with patient deal approach | |  | | (Min C. Chiu/Shutterstock) | | | Altas Partners closed its third PE fund Wednesday on $4 billion, with backing from some of North America's largest institutional investors. The firm executes only one or two deals a year at anywhere from $400 million to $1 billion each.
"We're trying to avoid the potential pitfalls of falling into a cycle of deployment of the need to put capital to work," said Aryella Frommer, head of investor relations at Altas. | | | | | | | | | More newly public companies return to PE hands | |  | | (Sophon Nawit/Shutterstock) | | | The number of companies going back into private equity ownership less than five years after going public is increasing.
As we pass the half-year point in 2023, 13 such deals worth about $26.7 billion have been struck, according to PitchBook data.
That's already approaching the totals for all of last year, numbers that suggest a return to a trend seen prior to the pandemic. | | | | | | | | | June wrap-up: One month in global markets | | Our latest Global Markets Snapshot breaks down a month of trends in the equity, debt and commodities markets, tracking returns across a range of indexes and sectors. It also features private market activity, including major deals, fundraising, IPO performance, lending volume and unicorn creation.
In this monthly digest, we provide the datasets that the PitchBook Institutional Research Group is keeping an eye on as markets remain volatile. | | | | | | | | | | AI startups' reliance on data centers capable of running AI systems puts tech industry giants in the driver's seat yet again. [The New York Times]
Silicon Valley Bank gets back to lending—but at a slower pace. [The Wall Street Journal]
One writer argues that Wimbledon's AI announcer was inevitable. [The Atlantic] | | | | | |
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| | Since yesterday, the PitchBook Platform added: | | 429 Deals | 2188 People | 588 Companies | 14 Funds | | | | | | |
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The Daily Benchmark:
2010 Vintage Global Real Assets Funds | | | | | | |
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Germany-based fitness startup EGYM has secured a $225 million investment led by Jared Kushner's Affinity Partners, TechCrunch reported.
Caddi, a supply chain tech startup, has raised an $89 million Series C co-led by investors including Globis Capital Partners, DCM Ventures and Global Brain.
Neko Health, a Stockholm-based provider of noninvasive medical scanning technology, has secured a €60 million Series A led by Lakestar.
Jewelry brand Giva has raised 2.7 billion Indian rupees (around $32.8 million) in a Series B led by Premji Invest, according to reports.
French accounting startup Dougs has raised €25 million from Expedition Growth Capital.
UK-based challenger bank Tandem has secured £20 million from Quilam Capital.
Gooten, which develops technology to support on-demand manufacturing, has secured an $11 million Series A led by KEC Ventures.
Kinnu, an AI-powered edtech startup, has raised $6.5 million from investors including LocalGlobe, Spark Capital and Cavalry Ventures.
SuperSight, which is developing crypto-focused large language models, has raised a $1 million pre-seed round backed by Blockchain Founders Fund and Animoca Brands, among others. | | | | | |
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ArcLight Capital Partners has agreed to acquire Duke Energy's commercial distributed power generation business at an enterprise value of $364 million. The business includes solar assets, a project development pipeline and fuel cell projects.
Ardian has agreed to purchase a 50% stake in MXT Holdings, a Mexico City-based telecommunications company, granting the firm co-ownership and control with Mexico Infrastructure Partners.
Mubadala has agreed to invest alongside KKR in its acquisition of CoolIT, a Calgary-based manufacturer of liquid coolant for high-performance computing, a buyout deal first announced in May.
Arroyo Investors has acquired Mesa Solutions, a distributed power generation solutions provider, from BP Energy Partners and minority investor HarbourVest Partners.
Cibus Fund has acquired Dutch agtech company Duijvestijn Tomaten, which grows tomatoes in glass houses powered by green energy.
DD Group, a UK provider of dental products backed by Sun European Partners, has acquired Dental Promotion & Innovation, a producer and distributor of dental products. | | | | | |
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| CVC Capital Partners has held a $800 million final close on its latest credit fund, CVC CLO Equity III. | | | | | |
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| Mintra, a Norwegian digital learning platform for the maritime and energy sectors, has agreed to buy peer Seably. | | | | | |
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